Geac to Buy Comshare
The move gives Geac, a Markham, Ontario-based developer of ERP (enterprise resource planning) and business management software for vertical industries like manufacturing, government, health care, education, libraries, financial services, construction, real estate and restaurants, Comshares MPC suite of planning, budgeting, forecasting, financial consolidation, and management reporting and analysis applications.
In a ringing endorsement of the software, Geac said it plans to standardize on MPC, replacing its own budgeting and consolidation applications. Comshare products will be integrated into Geacs existing application offerings through the use of Geacs application integration framework, linking operational and financial processes with management, planning and control solutions, Geac officials said.
"MPC appeals to the same CFOs and corporate controllers that rely on Geacs ERP transaction systems today," James Travers, president of Geac Americas, said in a statement. Travers said Geac will cross-sell MPC to its 5,000-plus customers. Comshare, based in Ann Arbor, Mich., has about 500 customers.
The deal is expected to close in August, subject to shareholder approval. The boards of directors of both companies have already approved it.
It will be Geacs second acquisition of the year; the company bought employee relationship management software developer Extensity in March.